(NMPRC, 31.May.2024) — The New Mexico Public Regulation Commission (NMPRC) approved an application by Public Service Company of New Mexico (PNM), a wholly-owned subsidiary of PNM Resources (NYSE: PNM), for new energy resources to be added by summer 2026.
The new resources, totaling 410 megawatts of solar and battery storage capacity, are planned to serve growing demand from PNM’s retail customers. PNM system peak demand reached new record highs in the summers of 2022 and 2023.
“PNM’s system needs are growing, and we are pleased the Commission approved our application to meet these growing needs with additional clean energy resources,” said Pat Vincent-Collawn, PNM Resources Chairman and CEO. “We are continuing to fulfill our pledge to reach carbon-free energy in New Mexico while ensuring we can reliably meet our customers’ growing energy demands.”
PNM filed its application in October 2023 after issuing a request for proposals in late 2022 to identify potential new resources available to serve customers in 2026. The approved resources consist of 100 megawatts of solar and 310 megawatts of battery storage, including a 60-megawatt battery storage facility to be owned by PNM.
Integration of these resources, along with other renewable and battery storage resources previously approved, will bring PNM’s resource capacity to 75% carbon-free in 2026.
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